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Buyer Broker Agreement/Realtor Exclusive

Posted on: Thu, 04/13/2017 - 21:30
Buyer Broker Agreement/Realtor Exclusive

Hello All:

I have posted this question before (thank you, by the way, jbezoski and homesteadroad for your replies) but wanted to get more detailed.

JBezoski, you wisely advised me NOT to sign a realtor-exclusive contract, a Buyer Broker Agreement, that required me to deal with only (1) one agent for a specific time frame.

Problem: most realtors want me to sign that exclusive agreement.

So, do I stick to my guns and insist that I will only do an agreement property by property?

Since I'm working the 25:1 system, isn't it better to get several agents out there scouring for deals - instead of just one?

Also, since I'm working the 25:1 system, isn't it better to have several agents out there making five-seven offers a week - instead of just one?

Is this so against normal and customary practices in the realty industry as to be impossible?

Or is this just smart?

Would be grateful for any replies,

Exhausted, sad, and frustrated...Sad Barf!

__________________


Posted on: Tue, 04/18/2017 - 18:32 #1
Mara

I agree to sign a contract with the broker that is property specific only. That is reasonable. In other words if an agent brings me a property or I offer through an agent and we get the property under contract, I sign an agreement that is specific to that property only. I have never had an agent say he/she would not do this.
Give that a try when working with agents.

And remember one important thing. They are working for you, not the other way around. Be nice but always maintain that position!

Michael

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Posted on: Tue, 04/18/2017 - 19:27 #2
Thank you, Michael !!

Thank you, Michael.

I so appreciate your reply.

I have really been through the wringer with this, many phone calls, lots of "coffees," only to find out they all want me to sign a Buyer Broker contract, a realtor exclusive.

This, despite my telling them exactly and precisely what I'm doing, and them assuring me they are "investor-friendly" agents.

I'm located in Northern Virginia and fear this Exclusive agreement may be typical here.

Still, I'm really grateful for your response because, you're right, it makes no sense. Property by property is the way to go.

I realize, as I think through it, this Buyer Broker Agreement benefits only the realtor and their broker.

Thank you, again, Michael, for your response ! Smiling


Posted on: Mon, 04/24/2017 - 11:44 #3
Mara

I echo MM above, and will add that I've told them "Sure I'll sign Your exclusive If You'll sign Mine" in a joking manner, we BOTH laugh and that's the end of it.

Best Wishes,

__________________

Mike
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